The Spirulina Market was valued at $0.59 billion in 2023 and is projected to grow to $1.20 billion by 2031. It is estimated to reach $0.64 billion in 2024, with a compound annual growth rate (CAGR) of 9.4% during the forecast period from 2024 to 2031.
Spirulina is renowned for its exceptional nutritional profile, making it a highly valued dietary supplement for those on vegetarian or vegan diets. Packed with protein and essential vitamins, spirulina also boasts antioxidant properties and helps regulate the immune system, providing numerous health benefits for consumers.
The global trend toward plant-based diets has been accelerating in recent years, fueled by increased awareness of health benefits, environmental sustainability, and ethical concerns related to animal welfare. Globally, around 8% of the population identifies as vegetarian, and according to the Vegan Society, this number reached approximately 14% by 2021. In India, 31-40% of the population follows a vegetarian diet, while Europe sees around 6% of its population identifying as vegan and 12% as vegetarian.
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The United States has seen a dramatic rise in veganism, with a 600% increase in individuals identifying as vegans over the past three years, according to the Food Revolution Network. In 2014, only 1% of Americans identified as vegan, but by 2020, that figure had climbed to 9%. Similarly, the U.K. saw 9% of its population adopt a vegan diet by 2021, and Germany experienced a 16.5% rise in its vegan population between 2014 and 2020. Canada, too, has witnessed growth in plant-based diets, with approximately 1.7 million Canadians identifying as vegetarian in 2020 and 0.85 million following a vegan lifestyle, as reported by Dalhousie University. Canada’s 2017 Food Guide, which emphasized plant-based foods, reflects the growing interest in vegetarianism and veganism.
Spirulina is particularly well-suited to meet the nutritional needs of this growing population. As an environmentally friendly alternative to animal-based protein supplements like whey and casein, spirulina appeals to health-conscious consumers seeking sustainable options. The FDA recognizes spirulina’s impressive nutrient profile, which includes calcium, niacin, potassium, magnesium, B vitamins, and iron—key nutrients that support overall health.
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One of spirulina’s standout qualities is its high protein content. Dried spirulina is composed of 70% protein by weight, which is nearly triple the amount found in beef. This makes it an ideal source of protein for vegetarians and vegans, who may struggle to meet their daily protein requirements. Furthermore, spirulina is rich in essential amino acids—the building blocks of proteins—making it a valuable addition to any plant-based diet. Vegans and vegetarians who may be at risk of iron deficiencies and anemia can benefit from spirulina’s high iron content, which helps bridge the nutritional gap.
In addition to its high protein and iron content, spirulina provides long-term health benefits. Regular consumption can boost the immune system, strengthen the digestive system, and enhance the body’s ability to absorb essential nutrients. This makes spirulina a critical supplement for individuals on plant-based diets, as it helps ensure they receive the necessary vitamins and minerals for optimal health.
Given the rising popularity of plant-based diets, the spirulina market is expected to experience significant growth in the coming years. Consumers are increasingly drawn to natural, nutrient-dense supplements that align with their health and environmental values, and spirulina fits the bill perfectly.
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According to Meticulous Research®, the global spirulina market is projected to reach $1.10 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. In terms of volume, the market is expected to reach 102,381.3 tons by 2030, with a CAGR of 8.0% over the same period.
According to Meticulous Research®, the spirulina market is projected to reach a value of $1.10 billion by 2030, growing at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. In terms of volume, the market is expected to reach 102,381.3 tons by 2030, with a CAGR of 8.0% during the same period.
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